More than $4000 Cr vanished in the economic turmoil Corona has incurred upon the global economy. While the world locked itself down, a Chinese entrepreneur was busy minting money. Eric Yuan, founder of Zoom Video Communications, turned the virus fear into business by cashing in on the social distancing and work from home practices.
If Corona brought the world to its knees, it turned out to be a lucky charm for Yuan. In the first quarter of 2020, Yuan garnered a net worth of $ 200 Cr. As per Bloomberg Billionaires Index, Yuan is the fourth entrepreneur who grew quick, surprising the world. With an asset of $5.6 Bn, he got into the list of the richest in the world.
Yuan’s Zoom software became a star app by providing support to virtual conferences and web meetings as offices, corporate establishments and educational institutions across the world shut down. His business boomed as more people opted for virtual reality because they couldn’t predict when the world would be back to normalcy.
Interestingly, Eric’s visa has been rejected 8 times by the US. But this man who was obsessed with the Silicon Valley finally reached there. It was exactly one year ago Eric’s Zoom Communications listed an IPO in NASDAQ. And, it received a good response on the debuting day itself. Started off in America, the app conquered the world in just one year. Now, this Chinese wonder has become a rage in the world.
